Posted by ceoshare > 2024-05-31 09:09 | Report Abuse

The company notes that at the opening, the casino establishment will have 281 gaming tables, 1,126 slot machines, and 134 electronic table games for both the mass and VIP markets.

Posted by necessity > 2024-06-04 12:42 | Report Abuse

undervalue by 75%..earning forecast over 50%..over 400% earning grew last year..
with the good news from our friends in thai and Philippine..i am definitely jump in..

Posted by ceoshare > 2024-06-05 23:13 | Report Abuse

投行目标价 RM0.66 。。 希望这几天可以稳稳 0.44 。。 下个星期 0.46 - 0.48

Posted by BryanW > 2024-06-10 17:27 | Report Abuse

Back to 0.455, potential to breakout in this week, else a correction will be seen.

Posted by ceoshare > 2024-06-10 18:47 | Report Abuse

10 June 2024

RGB International Bhd (RGB) @ 42.5 Sen – A Gaming gem with valuation of 60 Sen to 72 Sen

Currently at 42.5 Sen it is trading at historical PE 10.81 based on CORE EPS of 3.93 Sen (audited EPS of 1.65 Sen for FY 2023 adding back all exceptional expenses per attached Excel Worksheet).

RGB at 42.5 Sen, presents an enticing investment opportunity with substantial upside potential. Our analysis suggests a conservative valuation range of 60 Sen to 72 Sen, reflecting a compelling 41% to 69% upside, contingent upon the Mr. Market's recognition of RGB's true value.

Valuation
Our valuation is underpinned by robust financial modelling, projecting an EPS of 6 Sen for FY 2024. This projection is supported by the recent securing of a significant contract worth RM381 million for the supply and delivery of Slot Machine Equipment in FY 2024. Based on a PE range of 10 to 12, our model suggests a fair valuation of 60 Sen to 72 Sen.

Financial Performance
RGB's Q1 FY 2024 results demonstrated a remarkable improvement over FY 2023, with a revenue of RM210 million and reported a PBT of RM25.276 mil and a PAT of RM22.005 million with EPS of 1.44 Sen. Compared to FY 2023 where the revenue was RM699 mil with PBT of RM32.79 mil (the adjusted core PBT after adding back the exceptional expenses was RM72.125 mil) and the PAT was RM34.0 mil (Core PAT = RM60.546 mil) with an EPS of 1.65 Sen (core EPS adding back exceptional items = 3.93 Sen).

Notably, the company reported no bank borrowings and maintains a healthy cash balance of RM185.5 million, indicative of its strong financial position. Additionally, RGB has consistently generated positive operating cash flow, with Q1 FY 2024 recording RM24.4 million.

Catalysts for Rerating
Several catalysts support our bullish outlook on RGB:
• Exceptional Q1 2024 results with significant growth compared to FY 2023. Q1 PAT of RM22.005 mil is 36.3% of FY 2023 Core PAT of RM60.546 per the excel worksheet attached.

• Securing a lucrative contract from Philippine Amusement and Gaming Corporation ("PAGCOR") for the supply and delivery of Slot Machine Equipment, valued at RM381 million.

• The anticipated positive contribution to earnings and net assets per share from the PAGCOR contract in FY 2024 commencing from Q3.

• At conservative net margin after tax of about 10% (we understand from investor briefing net margin range from 9% to 12% depending on order quantity), we estimated the impact after tax of the contract could be about RM38 million net profit given the Macau tax rate is 12%.

Posted by ceoshare > 2024-06-10 18:48 | Report Abuse

• Favourable industry dynamics driven by the resurgence of the gaming sector post-pandemic and increased demand for gaming facilities.

Strong Financial
• The Company has a cash balance of RM185.5 mil (including other investments) with no bank borrowing on 31 March 2024.

• The cash per share is about 12.04 Sen compared to the net asset of the Company of 17 Sen. The Company has been in net cash position since 2015.

• Strong business cashflow with cash generated from operation for Q1 amounted to RM24.4 mil and for FY 2023 the cash generated from operation was RM123.81 mil.

The booming tourism industry and arrival of tourists is driving up the business of gaming resorts and gaming outlets operators. We understand the gaming industry is back to pre-pandemic level and all operators are operating at optimum capacity and looking at expanding their facilities and upgrading to newer EGM (electronic gaming machine). This demand augurs well for RGB.

The Company business in Philippines (its major market) is going to benefit from new casinos scheduled to open in the next few years as well as from the privatization of 41 casinos by the Philippines Gaming Regulator (PAGCOR). Do take note that on 30 May 2024 the Company had announced its subsidiary in Macau had secured a RM381 mil new order of gaming machines from a new Casino in Philippines for deliveries in FY 2024. RGB International Bhd (“RGB”), a leading casino machine supplier has been in the gaming industry for over 30 years. As international border is now reopened, and casino licenses have been rolling out extensively to boost economy, we believe RGB is poised for a growth in FY2023 and onwards.

Investment Merits
• Group successfully secured a RM381 million contract for a new casino in Philippines to be delivered in FY 2024 which will bolster its profit.

• Exclusive distributor for two main slot machines suppliers (Light & Wonder and Aristocrat) in the Philippines where the company hopes to benefit from the casinos scheduled to open in the next few years as well as from the privatization of 41 casinos by the Philippines gaming regulator (PAGCOR).

• Increasing Gross Profit margin to about 19.4%.

• Strong Balance Sheet with Net Asset per share of 17 Sen

• Cash balance of RM185.5 mil and cash per share of 12.04 Sen per share

• Gearing: Nil

• Net positive operating Cashflow of RM24.4 mil for 3 mths FY 2024 (RM123.8 mil FY 2023)

Conclusion

A share worth to buy in on weakness @42.5 Sen with huge potential upside of 41% to 69% with a valuation of 60.0 Sen to 72.0 Sen using PE 10 to PE 12.

Share Price RM0.425
Market Capital (RM): 658.0 million
Number of Share: 1.541 billion
EPS: 3.11 Sen (4 rolling qtrs.)
Estimated FY 2024 EPS: 6.0 Sen
P/E Ratio using FY 2024 Estimated EPS: 7.08
ROE (%): 18.29%
NTA/share: RM 0.17
Share Price range (1 Year): 25.5 Sen to 46 Sen

Posted by ceoshare > 2024-06-10 18:48 | Report Abuse

以上的帖， 是从其他地方 POST 的。

Posted by pangolin > 2024-06-13 00:12 | Report Abuse

i seat tight waiting for bonus issue after year 2018, move up 50c now

Posted by RGBeric > 2024-06-20 15:16 | Report Abuse

Strong movement today!

Posted by ceoshare > 2024-06-20 17:53 | Report Abuse

Final draft of Thai casino entertainment complex bill to be ready in 4 weeks
https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/19/final-draft-of-thai-casino-entertainment-complex-bill-to-be-ready-in-4-weeks

Posted by ceoshare > 2024-06-20 17:55 | Report Abuse

今年去到 RM0,80 可以吗 ？

Posted by ceoshare > 2024-06-22 20:05 | Report Abuse

RGB 什么时候去THAILAND 开 OFFICE ？

Posted by ceoshare > 2024-06-26 16:08 | Report Abuse

下个星期就 RM 0.50以上。。

Posted by ceoshare > 2024-07-06 12:57 | Report Abuse

A new integrated resort by billionaire Enrique Razon's Bloombery Resorts Corp will open in Manila later in 2024, while up to eight more casino projects are being planned, Mr Alejandro Tengco, chairman and chief executive of state regulator Philippine Amusement and Gaming Corporation (Pagcor), said in an interview a

Posted by Cakes Moon > 2024-07-16 10:59 | Report Abuse

Steady uptrend!!!
Slow & stable, good to hold!!!

Posted by Leona Leong > 2024-07-23 15:22 | Report Abuse

Drop back to original :(

Posted by RGBeric > 2024-07-26 16:41 | Report Abuse

uptrend idk lah, but really slow now....

Posted by pangolin > 2024-07-26 23:58 | Report Abuse

share price adjustment from 505- 405 , should i top up if touch beow 40c ??

Posted by rob8ry24 > 2024-07-29 11:42 | Report Abuse

any below 40 just hoot9e

Posted by BryanW > 2024-07-29 19:51 | Report Abuse

Around 0.390 - 0.400 is a strong support and with the support of MA 200.

Posted by JacNgu > 2024-07-31 12:23 | Report Abuse

HLIB BUY CALL!. RISKY. hit & run. hahaha

Posted by N4rc0t > 2024-08-06 15:54 | Report Abuse

Back like a boss

Posted by RGBeric > 2024-08-07 16:10 | Report Abuse

slow slow comeback

Posted by Noni > 2024-08-10 22:32 | Report Abuse

Strong

Posted by pangolin > 2024-08-21 16:13 | Report Abuse

quarter result out around this week, rgb possible for 0.6c ??

Posted by ceoshare > 2024-08-26 18:33 | Report Abuse

RESULT OUT.., DIVEDED 0.006

Posted by ivanlau > 2024-08-26 21:25 | Report Abuse

If based on forward eps 5x 12 pe, the fair value will be rm 0.60 , today closing 0.395 ......

Posted by pangolin > 2024-08-27 21:12 | Report Abuse

well done !!!! 0.006 for every quarter , 0.024 per year , 10-11 % ROI , better than FD !!

Posted by ceoshare > 2024-08-29 11:31 | Report Abuse

市场情绪不好。 看没有路

Posted by raymondroy > 2024-09-16 15:24 | Report Abuse

https://www.thestar.com.my/business/business-news/2024/09/16/rgb-hits-jackpot-post-pandemic

Interesting article and growth story :-)

Posted by ceoshare > 2 months ago | Report Abuse

Following the Company's announcements on 28 August 2023, 29 August 2023 and 4 September 2023, the Board of Directors of RGBI wish to inform that the matter in reference to RGB Sdn Bhd and Dato' Seri Chuah Kim Seah with the authority, has been completed and resolved, with no further action on the part of the authority.

Posted by ceoshare > 2 months ago | Report Abuse

SEttle case

Posted by pangolin > 2 months ago | Report Abuse

time to break 50c after case settled

Posted by ceoshare > 2 months ago | Report Abuse

RGB International– BUY (Jack Goh) • Well-positioned to capture the exponential slot machine growth in ASEAN gaming jurisdictions. The ASEAN gaming scene, especially in the Philippines, remains highly charged with aggressive gaming capacity expansion and post-pandemic replacement cycle. Hence, RGB is poised to largely benefit from this trend. Note that RGB has >70% market share in the Indochina and the Philippines’ slot machines markets. • Sequential years of lucrative earnings base in the making; on track for record-high earnings in 2024. RGB’s sales, support and marketing division is poised to deliver sales of about 4,500 slot machines for 2024 (vs 1,500-1,700 units before the COVID-19 pandemic). Meanwhile, the concession-based technical support and management division has been recovering progressively and is set to recover to 80-90% of 2019’s profitability levels in 2024. Including RM8m-12m in interest income (5% interest on RM160m-246m net cash) and contributions from the engineering services division, RGB is forecasted to achieve a record-high profit of RM113m in 2024. • On cloud nine after securing massive SSM orderbook from PACGOR. At end-May 24, RGB revealed that the group secured a RM383m (US$81.3m) contract from Philippine Amusement and Gaming Corporation (PAGCOR) to supply 1,968 electronic gaming machines and accessories. We believe this is to support PACGOR’s modernisation programme which includes revamping the gaming floor and rolling out new slot machines ahead of the privatisation of its casino operations. We expect these orderbooks to be fulfilled and translated into RGB’s earnings in 2Q-3Q24, which will pave the way for RGB to deliver meaningful qoq earnings growth in the upcoming quarters. • Deep-in-value financial matrixes reaffirm our investment thesis. Despite a >40% ytd
share price rally, RGB’s bargain valuations of 6x 2024F PE (4x ex-cash PE) still offer palatable potential capital upside. More importantly, RGB’s current net cash of about RM185m (27% of market cap) is more than sufficient to support our 40% dividend payout forecasts and lush yields of 7-8% in 2024-25. Should management raise the dividend payout ratio to 50%, prospective yields will likely be 8-10%. • Maintain BUY and target price of RM0.66, which implies 9x 2024F PE (pre-pandemic mean), 4x 2024F ex-cash PE, and 4.5x 2024 EV/EBITDA.

Posted by pangolin > 2 months ago | Report Abuse

infact , compare with genting m , RGB ROI IS much much better than genting m

Posted by ceoshare > 2 months ago | Report Abuse

会公布新的PROJECT 吗 ？

Posted by pangolin > 3 weeks ago | Report Abuse

fuiyoooo........ 0.018 cents div ...... well done RGb

Posted by Yunqi > 3 weeks ago | Report Abuse

Anybody can share more info about RGB?

Posted by harvest6138 > 2 weeks ago | Report Abuse

RGB management forecasted the 100m profit in FY2024 , which is possible if they delivered all the outstanding order by year end as what they declared , that means the next Q we shall see about 40m of profit .. anyway , I am more looking forward to hear they win new big contracts , lets pray hard for that ..

Posted by harvest6138 > 2 weeks ago | Report Abuse

https://www.klsescreener.com/v2/news/view/1435941/%E8%8F%B2pagcor%E8%B4%AD1968%E5%8F%B0%E5%8D%9A%E5%BD%A9%E6%9C%BA-rgb%E5%9B%BD%E9%99%85%E5%AE%8C%E6%88%90%E4%BA%A4%E4%BB%98%E5%AE%89%E8%A3%85

RGB completed the fulfillment of order to Philippine casino customer , high chance to see higher revenue and profit in next Q ...

Posted by Yunqi > 1 week ago | Report Abuse

High dividend high potential stock,keep hold the share.

Posted by Yunqi > 1 week ago | Report Abuse

看到几个投行都在介绍这间公司，报章也有在介绍他的前景，对RGB越来越有信心了，高股息，再加上这个行业的前景，公司的盈利增长已经超过过去，盈利已经突破历史新高，股价绝对的低估，还没有入手的抓紧最后的机会，大家一起加油

Posted by harvest6138 > 1 week ago | Report Abuse

https://www.klsescreener.com/v2/news/view/1439699/2025%E4%B8%8A%E5%8D%8A%E5%B9%B4%E6%9C%89%E8%BD%AC%E6%9C%BA-%E5%8D%9A%E5%BD%A9%E8%82%A1%E5%B7%B2%E8%B7%8C%E5%87%BA%E4%BB%B7%E5%80%BC

RGB price will go up if they continue to sustain their business market share in current regions ..

Posted by N4rc0t > 1 week ago | Report Abuse

anytime soon.....

Posted by Yunqi > 1 week ago | Report Abuse

我本人相当信任及有信心这间公司的管理层，本身也投资这家公司超过15年了，当然之前一段很长的时间都是在亏损状态，目前已经盈利了，可是还是不想脱售，因为看到公司朝向正面发展

Posted by Yunqi > 4 days ago | Report Abuse

Why all like missing.nobody discuss in RGB. This gem counter I keep promote but look like nobody agree in this stock.
Anybody got other opinions?pls share.

Posted by pangolin > 4 days ago | Report Abuse

all diam diam correct rgb dividend .......

Posted by Yunqi > 3 days ago | Report Abuse

Already diam diam lama,long time never see in the top active counter.
I don’t want goreng goreng this RGB.
Just share because the company good management,Record highest revenue n profit but share price still low,n very very good dividend.
Hope all investors can c in this RGB

Posted by pangolin > 2 days ago | Report Abuse

diam diam div collected , diam diam happy 30th dec div credit to bank

Posted by Yunqi > 1 day ago | Report Abuse

Yes, every 3 months can get 1 time dividend.